About Lucio Tan
Lucio Chua Tan Sr. is a Filipino billionaire businessman and philanthropist. He presides over the Filipino conglomerate company LT Group, Inc., a company with extensive business interests in sports, banking, airline, liquor, tobacco, real estate, beverages, and education. As of November 2024, Forbes estimated his net worth at US$2.8 billion. Forbes states that while in college, Tan "worked as a janitor at a tobacco factory" where he "mopped floors to pay for school." In 1966, Tan co-founded Fortune Tobacco Corporation (FTC), with Benito Tan Kee Hiong, Atty. In 1992, Tan won the bid that secured the purchase of the newly-privatized Philippine Airlines and became chairman of the airline three years later. In 2012, Tan created a conglomerate with estimated total assets of at least $5 billion by consolidating all his holdings in liquor, cigarette, banking, real estate and airlines into a single listed entity, Tanduay Holdings Inc.
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